(1)[The Collector, or any [Prohibition and Excise Officer] [Substituted by Act No.10 of 1989.]] specially empowered in that behalf may accept from any person whose licence or permit is liable to be cancelled or suspended under clause (a) or clause (b) of sub-section (1) of section 31 [for reasonable suspicion of his] [Substituted by G.O.Ms.No.162, Revenue (Excise-II) Department, dated 10.09.2015.] having committed an offence falling under [clause (b), clause (c), or clause (g) of section 34] [Substituted by Act No.4 of 1994.], clause (d), clause (e), clause (f), clause (g) or clause (h) of section 36; clause (b), clause (c) or clause (d) of section 37; or section 41, a sum of money not exceeding [three lakh rupees] [Substituted by G.O.Ms.No.162, Revenue (Excise-II) Department, dated 10.09.2015.] and subject to such minima as may be prescribed, in lieu of such cancellation or suspension or by way of compensation for the offence which may have been committed as the case may be; and in all cases in which any property, has been seized is liable to confiscation under this Act, may release the same on payment of the value thereof as estimated by such officer:Provided that where the property so seized is a liquor manufactured in contravention of this Act, such liquor shall not be released but shall be disposed of in such manner as may be prescribed.
